Its market share - along with that of Tesco and Sainsbury's - was measured on Wednesday to have fallen further while the likes of Aldi and Lidl continued to build business at their expense.

Morrisons was said to have had 11% of the grocery market at the end of April and Kantar Worldpanel, which compiles the figures, concluded the chain was the biggest loser among major grocers in terms of market share.

Chief executive Dalton Philips said: "The plans we set out at our results in March are on track.

"The reaction of our customers to the 1,200 'I'm Cheaper' price cuts we announced last week has been very positive.

"Although it will take time for their full impact to be felt, we are confident that these meaningful and permanent reductions in our prices will enable our clear points of difference to resonate strongly with consumers."